Union leaders, representing millions of US union workers, are revealing President Joe Biden’s potential plans to lower US tariffs on China, originally introduced by former President Trump.
United Steelworkers (USW) President Thomas Conway, in a letter to US Trade Representative Biden’s office, praised the Trump administration for imposing US tariffs on China, while rejecting suggestions that they should be reduced.
Biden officials such as Janet Yellen and Gina Raimondo and Biden said the United States should reconsider tariff cuts for China, a trade policy that the Chinese Communist Party (CCP) is lobbying in Washington DC.
Conway wrote:
as well as its impact on our economy, our producers and our employees. Tariffs for lists 1, 2, 3 and 4a . USTR has taken a targeted approach in both initial tariff setting and subsequent actions to advance US interests. a little, . Redirecting our supply sources alongside supply chain disruptions caused by the COVID-19 pandemic is a critical and unresolved issue. [Emphasis added]
. They have failed to respond clearly and consistently to signals sent that the CCP is not interested in competing but in winning and dominating key industries. to strengthen our economy in the future. [Emphasis added]
Breitbart News analysis found that the tariffs did not increase prices for Americans. A recent study by the Economic Policy Institute (EPI) notes that there is no link between US tariffs and current inflation.
“The timing of tariffs is clearly not related to inflation, and removing tariffs cannot include that,” the EPI researchers said. “Most tariffs are in effect until 2020, but inflation only started picking up in March 2021. Clearly, inflation is caused by many sources other than tariffs.”
US free trade with China has had a devastating effect on America’s working and middle classes in all 50 states. Conway referred to this effect in his letter:
diretso . But this estimate is not taken into account. and loss of future opportunities to compete. [Emphasis added]
From 2001 to 2018, US free trade with China eliminated 3.7 million American jobs in the economy, of which 2.8 million were lost to American manufacturing. During the same period, at least 50,000 American manufacturing plants closed.
This massive unemployment coincides with the growing trade deficit between the US and China. In 1985, before China joined the WTO, the US trade deficit with China was $6 billion. In 2019, the US trade deficit with China was more than $345 billion.
Meanwhile, a 2019 study found that permanent 25 percent U.S. tariffs on all Chinese imports would create more than a million U.S. jobs in five years. American manufacturing, like any job in manufacturing, is important to the US economy supports additional 7.4 US jobs in other industries.
Source: Breitbart
